Posted on 01/26/2021 4:59:22 AM PST by EyesOfTX
For the energy business, the Biden pain has only just begun. – China Joe Potato Head Biden, who has been wrong on every energy-related issue since the Carter Administration’s hilariously failed price control efforts of the 1970s, is taking a lot of head from formerly powerful Democrat constituencies this week over his rash and illogical decision to cancel the Keystone XL pipeline project’s cross-border permit.
VDO.AI Biden’s action was of course taken as a means of payback to the powerful climate change lobby whose funding of Democrat political campaigns rivals that of George Soros these days. Sold as a “climate change” measure, the elimination of this pipeline will in fact do absolutely nothing to impact climate change in any way, shape or form. The permit cancellation will, in fact, eliminate $1.7 billion in new investments in renewable energy generation projects that Keystone’s operator, TC Energy, had planned to make in order to make this the nation’s first interstate pipeline to run completely on renewable energy. Overall, this unprecedented act of executive fiat will eliminate $8 billion in capital investments, 10,000 union jobs and more than $2.2 billion in salaries for union workers.
Gosh, hard to see why anyone’s upset, right? Here’s an excerpt from a story at DailyWire:
Josh Senk, general manager of Michels Corporation, slammed Biden during a press conference in Wisconsin, saying, “The recent actions of President Joe Biden, the Executive Order halting the construction of the Keystone pipeline has effected Michels, thousands of union trade members across the country, and hundreds of guys that specifically work in Wisconsin.”
Senk later said that “hundreds of guys” have already been laid off.
The Associated Press noted that local leaders in New Mexico were worried about the impact that Biden’s decision would have on their state and leaders in Utah have asked Biden to reconsider his decision.
“During his inauguration, President Biden spoke about bringing our nation together. Eliminating drilling on public lands will cost thousands of New Mexicans their jobs and destroy what’s left of our state’s economy,” Carlsbad Mayor Dale Janway told the AP. “How does that bring us together? Environmental efforts should be fair and well-researched, not knee-jerk mandates that just hurt an already impoverished state.”
Native American tribes have also reportedly been angered by Biden’s decision to cancel the pipeline.
…
Multiple unions that endorsed Biden during his presidential campaign—including he Laborers’ International Union of North America (LIUNA) and the United Association of Union Plumbers and Pipefitters—have since slammed Biden for canceling the pipeline.
LIUNA said that the decision would “kill thousands of good-paying UNION jobs!”
“In revoking this permit, the Biden Administration has chosen to listen to the voices of fringe activists instead of union members and the American consumer on Day 1,” Mark McManus, General President of the United Association of Union Plumbers and Pipefitters. “Let me be very clear: When built with union labor by the men and women of the United Association, pipelines like Keystone XL remain the safest and most efficient modes of energy transportation in the world. Sadly, the Biden Administration has now put thousands of union workers out of work. For the average American family, it means energy costs will go up and communities will no longer see the local investments that come with pipeline construction.”
Local media organizations across the country have also reported on the negative impacts that the cancelation of the Keystone pipeline have had on their states.
[End]
As I reported over the weekend, China Joe is also taking a huge amount of head from Democrat officials and interests in oil producing states in the Mountain West region for invoking his 60-day hold on all permitting actions for oil and gas projects on federal lands. That order also applies to Indian reservations and federal waters in the Gulf of Mexico, angering various Tribes, along with the tens of thousands of Texans and Louisianans and Alabamans and Mississippians and even Floridians whose jobs are tied to the offshore oil and gas industry, which had been booming before China Joe took office.
Here’s the thing about this, folks: China Joe and his elder-abusing handlers are just getting started. A friend sent me the roster of political appointees Biden’s handlers are making to occupy the senior positions at the Department of Interior the other day, and the backgrounds of those appointees reads like a who’s who of the climate change lobby. These people aren’t being appointed to come in and help manage the nation’s energy resources: They are being appointed to come in and eliminate it.
A great example is the Bio of one appointee who is to be an “Advisor, Bureau of Ocean Energy Management.” The BOEM is the bureau at Interior that is tasked with efficiently managing federal lease sales and enforcing federal regulations of them. This woman, one Marissa Knodel, presents the following description of her “qualifications” for this advisory role:
Marissa Knodel is a passionate advocate for climate and environmental justice through a just and equitable transition to a clean energy-based society, and resilient adaptation to a changing climate. As Legislative Counsel with Earthjustice, her area of expertise included federal onshore, offshore, and Arctic oil and gas leasing and regulations. Prior to joining Earthjustice, Marissa managed a campaign at Friends of the Earth to stop new fossil fuel development on federal lands and waters. Marissa holds a dual J.D. and Master of Environmental Management degree from Vermont Law School and the Yale School of the Environment.
For those who do not know, Earthjustice and Friends of the Earth are two of the very most radical and execrable leftist/Marxist anti-development groups on the planet. Note how this “advisor” to BOEM brags about having managed a campaign to kill the offshore mineral development she is supposedly now being tasked to manage.
The full roster of these political appointees can be seen below.
Suffice it to say that, in terms of assaults on this nation’s oil and gas industry from the Biden/Harris Harris/Biden Administration, you ain’t seen nuthin’ yet.
That is all.
If you own any oil-related stock or your retirement account is invested into oil...you probably need to evaluate your situation, and vacate it. Same way if you are invested (for retirement) in insurance companies doing healthcare business. Both industries will take a hit in the next two years.
bkmk
Turn HIS gas off and see how he likes it.
Ya know, because “green”
“elimination of this pipeline will in fact do absolutely nothing to impact climate change in any way”
If you believe that CO2 emissions has an effect on climate change, then I would say that cancelling the Keystone Pipeline actually makes climate change worse.
Currently, there is more oil being produced in Alberta than can be pumped through existing pipelines. This is the reason not only for Keystone but the doubling in size of the current pipeline to Vancouver and the proposed pipeline from AB directly west to Prince Rupert, BC.
The excess oil is currently being loaded on CN, CPRS railcars and then shipped to refineries. Some have stated that the BNSF/Berkshire Hathaway has a vested interest in the cancelation of this pipeline. The BNSF does NOT own trackage in Canada. However, some of these oil trains do transit on their track once entering in the US.
We also know that shipping oil on railcars is much more dangerous than in a pipeline. We can ask the people of Lac-Megantic, PQ what happened in July 2013 when a railroad worker forgot to properly set the brakes on a mile long train parked uphill from downtown. The train rolled downhill, derailed burning down most of the town and KILLING 47 PEOPLE.
FU BIDEN
Michels in Wisconsin is a very large company. I once counted 45 brand new or nearly new of their iconic red pickup trucks working on ONE job at a Marriott hotel
Just a question of time before they shut down what is left of the commercial fishing industry in Federal waters - the Atlantic and Gulf.
“.. is taking a lot of head from formerly powerful Democrat constituencies this week....”
————
I was unaware that Monica Lewinsky was at one point considered a powerful Democrat constituency...but, then again, we are learning all kinds of unexpected things lately.
Just wondering, why would this dissuade him from continuing with this policy?
It’s not a blanket decision though.
As oil prices go up, some parts of the industry make MORE money.
As always, careful analysis is required.
XL was killed because it offered a cheaper way to ship oil. Cheaper than BeijinBiden’s supporters (rail shipers) could offer. Or, would offer.
Same deal with killing DJT’s execorder that lowered prices on insulin and epiPens.
BB’s $$ supporters needed to “return to normal” = more money for me, screw you.
Strategic bombing campaigns top two targets in war have been energy production and manufacturing.
The Left is waging war against the West to destroy it and rule over the ashes.
Actually, I believe KXL was to help Canada export (higher cost) Canadian oil sands oil to the US. With fracking and the US being an oil exporter it is kinda obsolete for the time being. Until fracking is killed off that is. Then importing from OPEC and Canada exporting to China occurs benefiting Xiden’s handlers. In fact I wouldn’t put it past the corruptocrats to import Canada oil via China getting it first and passing on a markup.
The oil industry has had a target on it’s back since the 1970’s. Obummer did a real number on BP.
Cut my teeth trading Energy and Metals...Boom and bust stocks. Ha!!
You know you can make money going south or north.
(as opposed to MAGA)
MALA is Spanish for “Bad”.
Have Only Just Begun
1. His covid-19 plan turned out to be a shovel ready job
deal.
2. He now wants to funnel money from the virus plan to
climate control.
3. Still confused a hell
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